Telegraph
"Today’s figures are the final nail in the coffin for Prime Minister Gordon Brown’s claim to have ‘ended boom and bust’; the United Kingdom economy is most definitely bust at the moment,"said Charles Davis at the Centre for Economics and Business Research said. "
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Sky News
Vince Cable, Lib Dem Treasury spokesman
"Britain is exceptionally vulnerable and one of the reasons we're exceptionally vulnerable is the Government allowed a big binge of personal borrowing, much of it related to the boom in the housing market which got completely out of control, and that was a very British problem. In addition to all the problems that are happening globally, we have a banking system which is exceptionally large and has frankly has been appallingly mismanaged and its difficulties are now feeding into the UK economy."
Labour MP John McDonnell, Left Economics Advisory Panel
"The Government has consistently failed to recognise the seriousness of the light of the UK economy and has consistently failed to recognise the need for radical measures to tackle the crisis. Today's figures not only confirm a recession, but point to a depression."
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Brown admits: 'I never saw it coming,' as figures confirm we're in the worst recession for 28 years. (Daily Mail)
COMMENT: Gordon Brown WAS warned by the Bank of England in 2006 about a possible 'Credit Crunch', AND the effect it would have on the economy.
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